Baosheng Executes RMB8.56M Receivables Sale at 3.8% of Book Value

summarizeSummary

Baosheng Media Group executed an agreement to sell RMB226.2M in receivables for RMB8.56M (US$1.26M), representing a 96% discount to book value, with payment split into two installments.

check_boxKey Events · Financing and Capital Events · BAOS

• Receivables Sold at 96% Discount

  Baosheng sold RMB226.2M (US$33.4M) in receivables for RMB8.56M (US$1.26M), approximately 3.8% of book value, to Guangzhou Nengren Advertising Co., Ltd.

• Sole Qualified Purchaser

  Guangzhou Nengren Advertising was the only qualified prospective purchaser identified through the public listing process, and the parties entered into the agreement on a negotiated basis.

• Payment Structure

  50% of the purchase price (RMB4.28M) is due within five business days of execution, with RMB2.56M already deposited; the remaining 50% is due within one month.

• As-Is Transfer with Risk Assumption

  The assets are transferred on an 'as-is' basis, with the purchaser assuming all collection and enforcement risks; ownership transfers only upon full payment.

auto_awesomeAnalysis · BAOS · Trade & Services

Baosheng Media Group finalized the sale of RMB226.2 million (US$33.4 million) in long-aged receivables for just RMB8.56 million (US$1.26 million) — roughly 3.8% of book value. The transaction converts a large, likely uncollectible asset into immediate cash, but the steep discount underscores the poor quality of the receivables and the company's urgent need for liquidity. The purchaser, Guangzhou Nengren Advertising, was the only qualified bidder, and the deal is structured with 50% paid upfront and the remainder due within one month. This follows a series of distress signals including a Nasdaq bid-price deficiency notice, a postponed reverse split vote, and a pending Cayman winding-up petition.